Middle East: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in the Middle East

In 2021, the Middle Eastern synthetic filament tow market increased by 1.9% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption recorded a pronounced reduction. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Synthetic Filament Tow Production in the Middle East

In value terms, synthetic filament tow production reached $X in 2021 estimated in export price. The total production indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -14.4% against 2018 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by 47%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Synthetic Filament Tow Exports

Exports in the Middle East

In 2021, overseas shipments of synthetic filament tow and staple fibers, not carded or combed increased by 52% to X tons, rising for the second year in a row after two years of decline. In general, exports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2015 with an increase of 53%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, synthetic filament tow exports surged to $X in 2021. Over the period under review, exports posted a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey was the major exporter of synthetic filament tow and staple fibers, not carded or combed in the Middle East, with the volume of exports recording X tons, which was near 75% of total exports in 2021. Saudi Arabia (X tons) held a 13% share (based on physical terms) of total exports, which put it in second place, followed by the United Arab Emirates (7.3%). Iran (X tons) held a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to synthetic filament tow exports from Turkey stood at +17.1%. At the same time, Saudi Arabia (+20.8%) and the United Arab Emirates (+10.9%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +20.8% from 2012-2021. By contrast, Iran (-4.2%) illustrated a downward trend over the same period. Turkey (+18 p.p.) and Saudi Arabia (+5.5 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates and Iran saw its share reduced by -1.8% and -13.2% from 2012 to 2021, respectively.

In value terms, Turkey ($X) remains the largest synthetic filament tow supplier in the Middle East, comprising 67% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 20% share of total exports. It was followed by the United Arab Emirates, with a 7.6% share.

In Turkey, synthetic filament tow exports expanded at an average annual rate of +12.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (+21.4% per year) and the United Arab Emirates (+6.8% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, rising by 31% against the previous year. In general, the export price, however, continues to indicate a noticeable reduction. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Saudi Arabia ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+0.5%), while the other leaders experienced a decline in the export price figures.

Synthetic Filament Tow Imports

Imports in the Middle East

After three years of decline, supplies from abroad of synthetic filament tow and staple fibers, not carded or combed increased by 2.8% to X tons in 2021. Over the period under review, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 10% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, synthetic filament tow imports soared to $X in 2021. Overall, imports, however, continue to indicate a noticeable decline. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Turkey (X tons) was the main importer of synthetic filament tow and staple fibers, not carded or combed, creating 66% of total imports. Israel (X tons) held a 15% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (7%). The following importers - Saudi Arabia (X tons), Iran (X tons) and Iraq (X tons) - together made up 8.2% of total imports.

From 2012 to 2021, average annual rates of growth with regard to synthetic filament tow imports into Turkey stood at +4.3%. At the same time, Iraq (+38.2%) and the United Arab Emirates (+2.1%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +38.2% from 2012-2021. Israel experienced a relatively flat trend pattern. By contrast, Saudi Arabia (-5.8%) and Iran (-20.9%) illustrated a downward trend over the same period. Turkey (+20 p.p.) and Iraq (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia and Iran saw its share reduced by -3% and -17.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported synthetic filament tow and staple fibers, not carded or combed in the Middle East, comprising 67% of total imports. The second position in the ranking was held by Israel ($X), with a 14% share of total imports. It was followed by the United Arab Emirates, with a 6.4% share.

From 2012 to 2021, the average annual growth rate of value in Turkey was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Israel (-1.2% per year) and the United Arab Emirates (-0.7% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, increasing by 27% against the previous year. Overall, the import price, however, showed a noticeable slump. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Iran ($X per ton) and Turkey ($X per ton), while Saudi Arabia ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iraq (-1.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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